Lowe’s Home Improvement Warehouse intends to break ground on a 130,000 square-foot store adjacent to Meijer this fall, with a grand opening tentatively set for fall 2006. The solution, which is the newest creation developed in Lowe’s Innovation Labs, leverages Google’s augmented reality technology Tango, allowing shoppers with Tango-enabled smartphones to search for products, add them to a shopping list and locate the product within the store.
Arthur Blank, Bernie Marcus, Ron Brill and Pat Farrah’s goal was to create a store that will offer home improvement items as well as excellent customer service, of course, earning good profit, and fulfilling their corporate social responsibility through the Home Depot Foundation.
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In a J.D. Power survey of six major home improvement and hardware retailers, Lowe’s ranked third and Home Depot fourth; Ace Hardware, a network of mostly independently owned, neighborhood-oriented stores, took the top spot, which arguably suggests that consumers prefer that model over the big box one.